# SEC sues Texas man over $12.3 million alleged crypto scheme built on fake AI trading bots - CoinDesk

**Published:** 2026-05-30T17:30:20.000Z  
**Topic:** SEC  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/3603ec8b-7d97-490a-9ad3-a0b79b50b7b5





## Sources
1. CoinDesk — [SEC sues Texas man over $12.3 million alleged crypto scheme built on fake AI trading bots](https://www.coindesk.com/business/2026/05/30/sec-sues-texas-man-over-usd12-3-million-alleged-crypto-scheme-built-on-fake-ai-trading-bots)
2. CoinDesk — [Over 60% of crypto press releasesl inked to high-risk or scam](https://www.coindesk.com/business/2026/01/27/over-60-of-crypto-press-releases-are-linked-to-high-risk-or-scam-projects-study-finds)
3. Bloomberg Law News — [Texas Man Ran $12.3 Million AI-Based Crypto Scheme, SEC Says](https://news.bloomberglaw.com/securities-law/texas-man-ran-12-3-million-ai-based-crypto-scheme-sec-says)
4. FinanceFeeds — [SEC Charges Texas Man Over $12.3 Million AI Crypto Trading Scheme](https://financefeeds.com/sec-charges-texas-man-over-12-3-million-ai-crypto-trading-scheme/)

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Cite as: TrendWatcher, "SEC sues Texas man over $12.3 million alleged crypto scheme built on fake AI trading bots - CoinDesk", https://www.trendwatcher.in/article/3603ec8b-7d97-490a-9ad3-a0b79b50b7b5